Revenue from the milling of the bulk sample from the Mobrun property near Rouyn, Que., has boosted third quarter financial results for Audrey Resources.
For the nine months ended Dec 31, revenue totalled $6.275 million, of which $2.471 million were derived from the sale of ore from the bulk sample.
The bulk sample, including sales of January, added more than $3.2 million to the working capital of the Montreal-listed company.
As payments for metals are spread out over a period of four months, the total amount may vary depending on the rate of exchange and the price of metals.
Revenue for the third quarter totalled $3.878 million compared with $209,000 for the corresponding period in 1985. Since Audrey has not yet reached the stage of commerical operation, the revenue will be applied to deferred expenditures.
Assets at the end of the period were $9.613 million compared with $1.211 million for 1985. Liquid assets at the end of the period were $1.356 million to which $2.471 million will be added from the sale of metals during the meriod.
Metals recoveries from the open pit bulk sample of 104,000 tonnes were 1,004,774 lb copper, 4,293,306 lb zinc, 19,975 oz silver and 2,654 oz gold.
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